Core Course for
Economic Development Policy & Management (EDP&M) Program

1st Semester, 2013-2014

As the core discipline subject of the DIDfs Economic Development Policy & Management (EDPM) Program, this course offers key principles and issues of Economics of Development bearing the needs of first-time learners in mind. Topics to be covered are: 1) the role of economic development in gdevelopmenth and poverty reduction (in conjunction with attaining the MDGs); 2) the evolution of economic development thoughts; 3) the stylized facts in economic development (open and closed questions); 4) theories of development (traditional and new growth theories); 5) dualistic development and structural change (growth, poverty, and income distribution; rural-urban dichotomy); 6) education and development; 7) sustainable development (the environment and development); 8) trade and development (import substitution, export promotion, and globalization); 9) financing development (capital and saving, financial system and development); 10) guiding development\markets vs. controls (the role of government in development, good governance); 11) development and institutions; and 12) new development challenges in the 21st century (globalization, international economic system, peace building, growth fetishism (?), etc.)

Date of Entry

Messages

July 16,2013

Course Evaluation
--Please download course evaluation sheets from the following URLs and fill them and return them to my mailbox on the 1st floor of GSID building. Insert your course evaluation and your term paper separately.

International Aspects of Economic Development will be mainly dealt in the 2nd Semester in"Development Management under Globalization" as a sequal to this course (Development Economics).
In this Development Economics Lecture, I will try to provide introduction/linkages to the subjects of
International Development Economics.

Students in the 2013 Development Economics are supposed to download and read the following Hirano/Otsubo stocktaking paper on the impacts of Globalization.

Poverty-Growth-Inequality under Globalization: Empirical Stocktaking

***Yumeka Hirano and Shigeru Otsubo, "Poverty-Growth-Inequality under Globalization: Time Dimensions and Control Factors of the Impacts of Integration," GSID Discussion Paper No.191, GSID, Nagoya University (October 2012).

Download the results and go over them by yourselves before coming to the next class meeting!!

June 24, 2013

Part III: Market vs. Government Controls in Economic Development--Market Experiments for you to feel the forces of markets, for you to feel the limitations of market-oriented development strategy....

-- Part I: Forces of the Markets?
-- (Part II: Can we supply Puclic Goods? Can we cooperate for development? -- Just Presentations, this year)

Starting on July 2, we will conduct market experiments so that you can feel/understand the market forces for us to discuss the key isseus of markets vs. goverrment controls/coordination for development.

On July 2 and July 9 lectures, classes will be stretched to 12:30pm so that we can finish experiments in suitable blocks. Prepare for quick lunches.

**Prof. Otsubo's Materials for Market Experiments (to be distributed in the class).

**Joseph E. Stiglitz, Principles of Micro-Econonmics, 2nd ed., W.W. Norton & Co., 1997 (Or any other edition).Read Chapter 7: The Public Sector, (This short chapter will be distributed in the class.)

*Joseph E. Stiglitz, Economics of the Public Sector, 3rd ed., W.W. Norton & Co., 2000.Read Chapter 1: The Public Sector in a Mixed Economy, and
Skim through Chapter 2: The Public Sector in the United States .Read Chapter 3: Market Efficiency, Chapter 4: Market Failures, and Chapter 6: Public Goods.

For those who are interested in Experimental Economics:(A)Daniel Friedman and Shyam Sunder, Experimental Methods: A Primer for Economists, Cambridge University Press, 1994.(A)ìzAàØAXAHi@óAuÀ±oÏwÌ´Æû@vA¯¶ÙA1999)

Market vs. Government Control in Economic Development:Building Instituions for Development Coordination

**Development as Freedom.
Read Chapter 5: Markets, State and Social Opportunity.

*Yoichiro Ishihara, "Economic Governance and Economic Performacne in Developing Countrires,"Forum of International Development Studies, Vol. 19 (Oct, 2001)
Excertpts will be distuributed in the class. Download and read the full paper!

Starting in the last week of May, we will deal with Growth Theories/Models. You are supposed to work on the required readings (**) inEconomic Growth Models and Theories:Growth Theories, Income Convergence?, Determinants of Growth, and Agriculture vs. Industry (Rural vs. Urban Sectors) section of the reading list.

Textbook chapters for the lectures in this Part II are the followings. Also refer to the on-line syllabus for the additional required and recommended readings.

As we discussed in the lecture, a PowerPointNote is available in order for you to review/study the essense/elements of Japanese development experience and Japanese market systems. This document is also highly relevant for you in taking the 2nd-semeter lecture JADE (Japanese Development Experience), a reuired course to be offered in the second semester.

Reading Assignments: For the Part 1 of 'Development Economics,' you are supposed to work on the required readings (**) in the following sections of the Reading List contained in our on-line course syllabus. Once you finish thise required readings (**), go onto the recommended selections (*).

-- Development Economics in International Development Studies

-- Poverty: How do you define it?

-- Stylized Facts & Evolving Principles in Economic Development

Reading Textbook Chapters by Yourselves:You should read designated sections of the Textbooks by yourselves. Upon this preparations, I will present/discuss things that deepen your understandings and the things/issues that cannot be taught in the standard textbooks. For Part I of the lecture, read ED Chaptgers 1,2, 5, and EOD Chapter 1.

Useful Sites on the Internet: As it is shown in the on-line syllabus, you are also requested to visit internaet websites in sections 1 through 5.

Make the Most of the Downloadable Presentation Files: Presentation materials to be used in the class are also downloadable from the relevant sections of the Reading List. It is a very good idea for you to go through them by yourselves, print and bring them with you to the classes so that you can leave notes on them as I make (brain-storming) presenations.

By the way, if you wish to review the history of the global economic system, refer to the following handouts. For the period up to the WWII...